Subdued demand keeps sugar steady

Our Correspondent Mumbai | Updated on August 13, 2020 Published on August 13, 2020

Sugar prices at upper mill and naka level ruled steady on Thursday on less than expected demand. At the Vashi spot market, prices were down by ₹5-10 a quintal for S-grade on lack of demand. Higher buying interest for M-grade continued.

Arrivals increased to 44-45 truck loads (of 10 tonnes each) and local dispatches were at 42-43 loads. Inventories were about 90 truckloads. Freight rates were stable at ₹85-100 per bag.

On Saturday evening, 19-20 mills offered tenders and sold about 58,000-60,000 bags at ₹3,150-3,210 for S-grade and ₹3,250-3,310 for M-grade.

The Bombay Sugar Merchants Association spot rates (₹/quintal): S-grade 3,300-3,382 and M-grade 3,410-3,590. Naka delivery rates (₹/quintal): S-grade 3,250-3,320 and M-grade 3,370-3,420.

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Published on August 13, 2020
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